Cohabiting Quandaries: Should You Mix Finances With Your Other Half?

When you reach a stage where you want to move in with your significant other, there’s so much to get excited about and look forward to. No longer will you have to make plans just to curl up and watch a movie together, and there will always be a friendly face waiting for you when you get home from work. 
Mix Finances With Your Other Half
As undeniably wonderful as all of these things are, there are a few hurdles for a newly-cohabiting couple to manage. The biggest of these is financial matters and, most importantly, whether you should mix your finances together. So let’s drill down into the facts of it: is merging finances a good idea? 
YES: Couples Who Share Finances Are Better Set For Life 
If a couple can manage their financial affairs well, then they have navigated one of the biggest problems in relationships. There’s no time like the present to get started on feeling comfortable talking about money as a couple, so why delay the inevitable? Finances are going to be an integral part of your lives together, so you might as well jump that hurdle as quickly as possible. 
NO: Money Is Always A Tough Subject For Couples
According to, arguing about money is one of the primary reasons for divorce and breakups. If money is always such an incendiary topic, perhaps it’s better just to avoid it altogether. Split all outgoings 50:50 and otherwise keep your finances completely separate. If you fear you will argue about finances, then this might be the best solution — but bear in mind you could be sweeping the problem under the rug. 
YES: Couples Can Argue About Money Even With Separate Finances 
Bear in mind that even when finances are separate, couples can still argue about them. They can argue over who pays for a meal out, or need to borrow money from one another for various reasons. So separate finances don’t ensure you won’t ever argue about money, which means you must question if it is worth the hassle of staying separate.
NO: Their Poor History Might Impact You 
If your partner’s finances aren’t in good shape, then merging your finances probably isn’t the best choice. If they have debts, then they need to look through and sort out a repayment plan before you should even think of merging your finances. If their credit score is poor, then linking your finances to them could also damage your credit score. It’s therefore imperative that you don’t merge finances until they have their personal finance in order. 
YES: It’s Easier 
Simple: it’s easier to manage the financial affairs of an entire household if you have integrated finances. If you crave an easy life, then merging finances will definitely be the best option for you. 
In Conclusion
If you’re sure you can handle the responsibility of joint finances — and you’re both in a strong financial position — then you should be able to merge your finances. The only exception is when one of you is in a financially poor position. In that instance, wait until you’re on an even keel, then proceed together as a couple.

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